just for disclosure sake, i sold the balance of my holdings yesterday and today between $1.01 and $0.99.. so holding return over the 6 months was about 11% including divs.. so decent risk reward.Global bank debt and investment grade is getting repriced on the back of SVB, and I do think credit spreads will widen further. I would expect PCI's book value to drop a bit from 1.09... I was really hoping to get it out the door at $1.04-1.05, but sometimes the market doesn't give you the chance.. i'm going to steer clear of this one for now unless we get back in the high 80's again.
PCI Price at posting:
98.0¢ Sentiment: Sell Disclosure: Not Held
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